Question
Reporting Stockholders' Equity Items on Statement of Cash Flows On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income,
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Reporting Stockholders' Equity Items on Statement of Cash Flows
On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year.
ACCOUNT Common Stock, $5 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance, 55,000 shares 275,000 Apr. 2 13,750 shares issued for cash 68,750 343,750 June 30 2,000-share stock dividend 10,000 353,750 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 165,000 Apr. 2 13,750 shares issued for cash 178,750 343,750 June 30 Stock dividend 7,500 351,250 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 228,000 June 30 Stock dividend 17,500 210,500 Dec. 30 Cash dividend 26,200 184,300 Dec. 31 Net income 164,200 348,500 If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column.
Item Section of Statement of Cash Flows Added or Deducted Amount Sale of common stock $ Cash dividend $ Stock dividend $
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Financial Accounting An International Introduction
Authors: David Alexander
7th Edition
129229583X, 978-1292295831
